Leet Technology Inc (LTES): No idea how Burrows acquired shares but...

Reply Private New

Replies (1) Next 10 Prev Next

Send PM Follow Ignore

Followers	150
Posts	7543
Boards Moderated	0
Alias Born	04/09/2013

Sobek

Re: bot2soon post# 1374

Thursday, 05/25/2017 4:09:41 PM

Thursday, May 25, 2017 4:09:41 PM

No idea how Burrows acquired shares but from the filings, I'm leaning towards it was a share purchase agreement. If they used that money for the 1,000 units on back order, then the pps would be roughly around .25 cents and not really a good deal for that many shares.

Doheny is entitled to a guaranteed 9.99% position no matter the outstanding share count and if I recall correctly, it's not a line of credit but there's possibilities of future financing. The company should of already burned through that entire loan.

Right now Doheny is supposed to have at least 2.1 million shares. And when/if Lopez gets shares, Doheny and Summers will get more shares as well because of the full ratchet deals they have.

So if Burrows bought their position, I have no problem with that. It's the free shares Doheny got for lending the company like $750k under the absolute ridicules conditions they did... I was pissed when they agreed to it, and I'm still pissed at it now. Would absolutely love it if the company sued both Doheny and Summers to get those shares back.. but wishful thinking, right?

I'm a non-professional individual investor who may own, not own, buy, or sell stock at any given time in any security ever mentioned in posts. I never accept compensation in any form to post. Always consult an investment professional when investing.